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MarketScreener Homepage  >  Equities  >  ISTANBUL STOCK EXCHANGE  >  Yapi ve Kredi Bankasi A.S.    YKBNK   TRAYKBNK91N6

YAPI VE KREDI BANKASI A.S.

(YKBNK)
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UniCredit gets CET1 boost as ECB clears equity method for Yapi stake

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03/11/2020 | 03:42am EDT
A general view of UniCredit Tower and the

UniCredit said it would add half a percentage point to its core capital ratio in the first quarter after it cut its stake in Turkey's Yapi Kredi and got regulatory approval to book its remaining holding.

Italy's biggest lender said the European Central Bank had notified it that it was allowed to consolidate its remaining 20% stake in Yapi in its balance sheet using the equity method.

This is an accounting method companies can use to book their holding in another firm when they do not exercise full control over it, allowing them to book as an investment a proportional share of the equity of that firm.

The bank will also apply the deduction mechanism for significant investments in financial sector entities.

"Following such notification, the group's risk weighted assets will no longer include YKB's proportional contribution," UniCredit said in a statement on Wednesday.

UniCredit will also exclude Yapi when calculating its liquidity ratios.

The unwinding of UniCredit's joint venture with Turkish conglomerate Koc Holding and the sale of part of its stake in the country's third-biggest bank are part of a broader strategy to streamline its assets.

(Reporting by Valentina Za; editing by Giulia Segreti and Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -1.43% 12.42 Delayed Quote.125.82%
JASON CO., LTD. 0.00% 827 End-of-day quote.127.20%
JUST GROUP PLC -0.31% 44.66 Delayed Quote.-43.29%
KOC HOLDING AS End-of-day quote.
UNICREDIT S.P.A. -0.13% 7.708 Delayed Quote.-40.70%
WILL GROUP, INC. 0.00% 535 End-of-day quote.-57.27%
YAPI VE KREDI BANKASI A.S. End-of-day quote.
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Financials
Sales 2020 22 300 M 3 197 M 3 197 M
Net income 2020 4 159 M 596 M 596 M
Net Debt 2020 - - -
P/E ratio 2020 4,35x
Yield 2020 1,06%
Capitalization 18 077 M 2 594 M 2 592 M
Capi. / Sales 2020 0,81x
Capi. / Sales 2021 0,80x
Nbr of Employees 17 338
Free-Float 30,0%
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Average target price 2,96 TRY
Last Close Price 2,14 TRY
Spread / Highest target 91,6%
Spread / Average Target 38,3%
Spread / Lowest Target -8,41%
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Managers
NameTitle
Gökhan Erün General Manager & Executive Director
Ali Yildirim Koç Chairman
Demir Karaaslan Assistant GM-Financial Planning & Administration
Ahmet Fadil Ashaboglu Director
Wolfgang Schilk Director
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